Mariner LLC Decreases Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Mariner LLC lowered its position in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 329,660 shares of the company's stock after selling 38,257 shares during the period. Mariner LLC owned about 0.19% of Zurn Elkay Water Solutions worth $12,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ZWS. GAMMA Investing LLC raised its holdings in shares of Zurn Elkay Water Solutions by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $35,000 after purchasing an additional 544 shares in the last quarter. Atala Financial Inc bought a new position in Zurn Elkay Water Solutions in the fourth quarter worth approximately $44,000. Tsfg LLC purchased a new stake in Zurn Elkay Water Solutions during the fourth quarter worth $56,000. Tortoise Investment Management LLC boosted its position in Zurn Elkay Water Solutions by 77.4% during the 4th quarter. Tortoise Investment Management LLC now owns 1,731 shares of the company's stock valued at $65,000 after acquiring an additional 755 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Zurn Elkay Water Solutions in the 4th quarter valued at $82,000. 83.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Aimee Katz sold 8,912,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $33.60, for a total transaction of $299,460,000.00. Following the sale, the insider now directly owns 15,002,819 shares of the company's stock, valued at $504,094,718.40. This trade represents a 37.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Pauli sold 8,390 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $35.47, for a total value of $297,593.30. Following the completion of the transaction, the chief financial officer now directly owns 59,410 shares of the company's stock, valued at $2,107,272.70. The trade was a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Zurn Elkay Water Solutions Stock Up 8.7 %

Shares of ZWS traded up $2.71 during mid-day trading on Wednesday, hitting $33.84. 645,889 shares of the company traded hands, compared to its average volume of 1,119,455. The company has a market capitalization of $5.71 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a quick ratio of 1.81, a current ratio of 2.91 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $32.78 and a 200 day moving average of $36.28. Zurn Elkay Water Solutions Co. has a 1-year low of $27.74 and a 1-year high of $41.15.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Zurn Elkay Water Solutions had a return on equity of 14.03% and a net margin of 10.23%. The firm had revenue of $388.80 million for the quarter, compared to the consensus estimate of $383.87 million. During the same period in the prior year, the firm earned $0.29 EPS. Equities research analysts anticipate that Zurn Elkay Water Solutions Co. will post 1.36 EPS for the current year.

Zurn Elkay Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, February 20th. Zurn Elkay Water Solutions's payout ratio is 39.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ZWS shares. BNP Paribas downgraded Zurn Elkay Water Solutions from an "outperform" rating to a "neutral" rating and set a $29.00 price objective on the stock. in a research report on Wednesday, April 9th. The Goldman Sachs Group cut their price objective on shares of Zurn Elkay Water Solutions from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Stifel Nicolaus raised shares of Zurn Elkay Water Solutions from a "hold" rating to a "buy" rating and decreased their target price for the company from $39.00 to $34.00 in a research report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.71.

Zurn Elkay Water Solutions Company Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.